I was pleasantly surprised to find a letter from the IRS today. My wife and I will receive an advance payment of $1,200 for the 2003 child tax credit. How about that? Has anyone else received this notice? CardKid
The first of 3 huge batches of check notices went out and checks should be mailed Monday. If you're AGAINST the tax cut please sign the back and return it earmarked for the deficit. LOL
...not to be mean, but so what??? It just means you won't get it at the end of the year. Not that i won't cash my $800 check, mind you! I am a hypocrite, of course! My company JCPENNEY is cashing the checks for free at our customer service catalog desks...so stimulate that economy, people!
You might want to save a good % of this "refund" to pay the increased property and State taxes that will be needed to support your schools, police and fire departments. The deficit increasing tax cut that puts $400. per child back in YOUR pocket, puts an average of $83,000. back in the pockets of each person in the top 20% income bracket. The same tax cut also further starves the States and Cities of funds to carry out their functions, pushes all States into a budget crisis and creates much higher unempoyment due to layoffs.
I'm poor as dirt right now and I agree that if you don't pay taxes you shouldn't get a refund. The other way constitutes Social engineering, and well this is Amerika, a constitutional republic, and if I don't put into the well, I have no right drinking from it. It's a shame that they use our own credit money against us to keep themselves in office to turn this beautiful country into a socailist wasteland. Eventually the people of this country who keep not paying attention and trying to grab it all will find themselves at the mercy of good ole NATO. Could you imagine NATO troops coming into the US to stop a revolution of we the people to trying to replace our gov? via our constitutional rights to rid ourselves of Tryanny? Wake Up Amerika! Ooops, thought this was the political soapbox board..........
My husband is at that $80,000 income level but after taxes this year, we cleared $53,000.00. He is also one of those active duty military members that the Dems want you to feel guilty for giving them a tax cut while lesser ranks get none. We like the money we received yesterday, using it to help with our transferr next month. It is ours and I am glad we have it back. PS if it is so wrong then send it back!!
It is PROBABLY a "ADVANCE REFUND"...so come APRIL 15, 2004 you will get "REFUND" $812.32 -$400.00 (PAID 07/2003) = "NEW" refund $412.32
Our goal is to pay off the mortgage and become self-employed in six to seven years. That's plenty of time to observe trends, investigate opportunities, educate ourselves, get acquainted with small business resources and even write a business proposal. I'm thanking the President because he signed into law an Act that not only increased the child tax credit, but it cuts taxes across the board to help stimulate the economy, improve employment growth, encourages small business development and so much more. Did I mention that my principle will be reduced by $1,200 because of the credit? So, if anyone wants to complain about receiving refunds that Congress could have voted against, or the President could have stamped "VETO," please remember that CardKid could pay the mortgage off sooner if you're willing to chip in. By the way, I accept PayPal. CardKid
Why Chat, while I respect you and your knowledge of the law, these figures do not show the entire picture. It reminds me of Al Gore's 2000 campaign ("The tax cuts will benefit the top 1% richest people!"). Of course it does, in terms of dollar amounts, and that makes perfect sense... you earn more, you pay more taxes, any refund would OBVIOUSLY get you back the more money. However, if you write those numbers in terms of a percentage, you won't be able to paint the same picture. According to the Dept of Treasury's last Distributional Analysis Methodology report (Sept 1999), page 24, table 12, the top 20% income bracket pays for *OVER 65%* of the total federal income tax to begin with... the lowest 20% income bracket pays for *UNDER 1%* of the total federal income tax... I'm having a hard time seeing why the rich folks can't keep more of their money (just as much as anyone else) when a tax cut rolls around.
I am single with no kids and I have a high income. I have to duck, dive and hide, just to catch a break. Defer this, invest that, stash this! Even still, I pay a nice chunck in taxes. So shouldn't I be entitled to more back than someone that barely contributes to the till. How about a single, high contributory tax credit...LOL! I'd like to see that in my mailbox one day. Dear Madam: It is our position that you are entitled to a tax credit for being such a good little worker and allowing us to slice a nice chunk of your income for the needy and for those families and individuals in a lower tax bracket than yourself. To demonstrate our appreciation for your involuntary participation in this program, you can anticipate receiving a check in the amount of $_______. Thank you again. Sincerely The United States Treasury Department
Or how about this one: Dear Neo, Enclosed, please find a check from the US Treasury in the amount of $oodles. We have been informed by the Justice department that by law, brute force collection of income taxes, "Social" security taxes, and medicare taxes is repungant to a free people in a constitutional republic. The justice department has investigated a complaint filed by one of our citizens and have discovered that there is no law that requires you to pay these taxes at all. Remember that Voultary tax system we have been speaking of for years? Well guess what! It is completely voluntary! It had to be in order for us to get around that old document called the constitution. We've been duping you all these years just to make you believe it was mandatory! My Bad ( We even made you think that voluntary compliance was grammatically correct) In the departments investigation, they also discovered that by bypassing the federal reserve, we avoid paying interest on money we borrow from them to pay the gov's bills. We have decided to once again issue Treasury dollars with some acutual value to em. We have also decided to not give out any more gov. cheese. We find that by allowing individuals something for free, everybody else lines up with their hands out, and well, now everybody wants cheese. Even foreign countries want our cheese. We cannot afford this. If we continue down this slippery trail, then we will forever be in debt and our future generations will be in slavery to those greedy bankers. Since we aren't handing out gov cheese to every Tom, Dick, and Harry with their hands out anymore, and since were not gonna "borrow" our own sweat and blood from the Federal Reserve with interest again, we find that the budget for Fiscal Year 2004 will result in a SURPLUS of $40,000,000,000,000.00 We apologize for any inconveinence this may have caused you or your family, your ancestors or your future generations. Signed, The Gov. nipple
Gosh, my household income is to high to get the credit. :-( Don't you worry "Why Chat", I got socked with a 66% tax rate a couple of years back thanks to the AMT and ISO stock options. I'm sure that will put a smile on your face and a warm feeling in your belly -- I know Ted Kennedy would smile. ;-) But seriously, most taxes are paid by that upper 5% that you seem to be upset with. A 1% tax cut for those folks would "cost" the federal government a lot more than a 100% tax cut for the bottom 5% of folks. --Galabar
10% FLAT TAX WOULD SOLVE THE PROBLEM...(wouldn't it???) Make $10,000/year tax $1,000 Make $100,000,000/year~~tax $10,000,000 NO DEDUCTIONS... Everybody is so worried about the "POOR" people...but they get so many benefits that they make MORE MONEY than the poor couple working 4 jobs between the 2 of them!!!
We wouldn't have to pay any income taxes if our monies were not wasted on millions of special interest groups looking for a handout every day. Take the Mexican bailout in 1995 for example. Do you think that the 40 billion dollars we sent to the Mexican gov was for the people of Mexico? NO> it was to keep the Mexican banks from defaulting on loans to other banks they borrowed from, ie US and European Banks. Especially Goldman Sachs here in the US. If the mexican banks were to default, then the US banks would end up eating more and more of other countries debt, and possibly defaulting themselves, creating havoc in the financial markets. I think consumer confidence wouldn't be so rosey if US banks starting collapsing. Hey, so why not print up more money. Loan it to the treasury, give it to Mexico, and then we'll tax you and your grandchildren into poverty paying it back. Could you imagine the interest payment on 40 billion dollars. Just as with these stinkin cc's somebody has got to pay it back. I don't recall any of our own banks loaning us more money to keep us fromn defaulting on our credit card payments. No they hammer, and lie and cheat, and do anything including taking your property just to get their stinkin debt money back. Oh, but they can get themselves out of a jam by brute force stealing your wages via taxes to pay for thier own mistakes. They are gonna get thier money. Chargeoffs, bankruptcies, all of these things will be paid off whether it be through your own funds, or the public treasury. They just don't go away. Just pile it on top of the national debt, we'll adress it later on sometime down the road. When our grandchildren are in complete slavery becasue the bank hired the CA to collect on the US national debt. I can see the judgement papers now. Then they start consficating our property. Maybe they will let you keep your house, you know, gotta have somewhere to live, so you can continue to work off the debt you owe us. Look at Argentina, poor soles defaulted on their debt payments. They don't seem to be having much fun over there. And they had it pretty nice up until that point. Too much debt, will implode ya. From your own personal debt, to the national debt. Trillions and Trillions of dollar in debt. Your cc statement would have to be volumes with all of the charges, interest, etc. Think of the public treasury as one giant cc. Only this is a secured card. Secured by all of the property in this country, as well as the blood and sweat of our kids and their kids, etc. I wouldn't want to answer the phone when that CA calls.
